What is CSRD?: what businesses need to know
The Corporate Sustainability Reporting Directive (CSRD) is a set of rules from the European Union. It stipulates that large companies need to report on their sustainability performance. This includes factors such as their environmental impact and social responsibility.
Specifically, the CSRD applies to large public-interest entities with more than 500 employees. This includes listed companies, banks, insurance companies, and other companies that are so designated by member states because of their activities, size, or number of employees.
The goal of the CSRD is to make businesses more transparent. This can help investors, customers, and the public make more informed decisions. It can also encourage businesses to be more sustainable.
If your business falls under the CSRD, it's important to understand what you need to report and how to do it. This can help you stay compliant and avoid potential penalties. It can also help you improve your sustainability performance and reputation.
The details of the upcoming CSRD regulation can be found on the website of the EU.